Long Term Care Insurance

Definition

• An insurance policy that provides coverage for home care, group home care, nursing home care, personal care or adult day care for those with a chronic or disabling condition or those over the age of 65.

Synonyms
long term health care insurance

Acronyms
LTC

Related Terms and Acronyms

• Activities of Daily Living (ADL) — Acronym, Important,
  • Physical activities an average individual is capable of doing on a normal day.
• Co-housing — Definition,
  • Also called cooperative housing and community housing, is an arrangement in which dwelling units have access to a shared space with a large kitchen, dining hall, laundry and children's play areas.
• Critical Illness Insurance (CII) — Acronym, Very Important,
  • Insurance that covers individuals in the event of a critical or catastrophic illness.
  ➥ A health insurance policy rider.
• Custodial Care — Definition,
  • Care for individuals who find themselves unable to perform the activities of daily living but at the same time are not in need of constant medical care.
• Disability Insurance (DI) — Acronym, Important,
  • Insurance that covers individuals who develop a condition that hinders their ability to work.
• Disease Management (DM) — Acronym, Important,
  • The process of discussing and agreeing to treatments and care plans for individuals with long-term health care needs.
  ➥ Heath care decisions made to manage a disease.
• Dread Disease Rider — Definition,
  • Insurance that provides a benefit if the policyholder is diagnosed with an illness that is deemed serious or terminal.
• Elimination Period — Definition,
  • The wait that spans from when a claim is initially filed to when benefits are eventually paid by an insurer.
• Group Home Care — Definition,
  • An arrangement where a group of people with disabilities receive both custodial and medical care in a single residence instead of in their own homes, which can be prohibitively expensive.
• Handicap Accessibility — Definition,
  • A measure of how accessible a location, product or service is for people with special needs or disabilities.
• Health Insurance (HI) — Acronym,
  • Insurance that covers the costs of medical expenses for insured persons.
• Home Care — Definition,
  • Medical and/or non-medical care provided directly in a person's home.
• Insurance (insur) — Abbreviation,
  • An arrangement where one party provides financial protection to another party for specific damages or losses.
• Life Insurance — Definition, Very Important,
  • An arrangement where an insurer agrees to pay a benefit to one or more beneficiaries in the event of the policyholder's death.
  ➥ CanEquity offers life insurance.
• Morbidity Rate — Definition,
  • A measurement of how prevalent a medical condition or disease is.
• Own-Occupation Provision — Definition,
  • Insurance that triggers when a policyholder is unable to work in his or her own occupation due to disablement.
• Residual Benefit — Definition,
  • Insurance benefits paid to individuals who lose income due to a covered disability.